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Trump says he will tap Musk to lead government efficiency commission if elected | Reuters
Trump says he'd create government efficiency commission led by Elon Musk | AP News
Speaking at the New York Economic Club, the former president also pledged to slash corporate tax rates for companies that manufacture domestically, establish "low-tax" zones on federal lands where construction companies would be encouraged to build new homes, and start a sovereign wealth fund.
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"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government," Trump told an audience that included Trump's former treasury secretary, Steve Mnuchin, and financiers Scott Bessent and John Paulson.
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"I look forward to serving America if the opportunity arises," the Tesla chief wrote on X on Thursday. "No pay, no title, no recognition is needed."
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Asked by Reuters about Musk heading the proposed government efficiency panel, Paulson said it was "great to have him as an ally. He's a terrific businessman, and I think the government could become much, much more efficient."
Trump says he'd create government efficiency commission led by Elon Musk | AP News
The Republican presidential nominee claimed that in 2022, “fraud and improper payments alone cost taxpayers an estimated hundreds of billions of dollars.” He said the commission would recommend “drastic reforms” and develop a plan to eliminate fraud and improper payments within six months, which he said would save trillions of dollars.
“We need to do it,” Trump said. “Can’t go on the way we are now.”
Trump also promised to cut 10 government regulations for every new regulation implemented if he’s elected in November.
He announced the plans in a speech to the Economic Club of New York, a group of executives and industry leaders, where he also unveiled proposals to slash regulations and boost energy production, embrace cryptocurrencies and drastically cut government spending as well as corporate taxes for companies that produce in the U.S.
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“You’re the greatest cutter,” Trump told Musk then. “I need an Elon Musk — I need somebody that has a lot of strength and courage and smarts. I want to close up the Department of Education, move education back to the states.”
Trump and Musk, two of the world’s most powerful men, have shifted from being bitter rivals to unlikely allies over the span of one election season.
Musk, who described himself as a “moderate Democrat” until recently, suggested in 2022 that Trump was too old to be president again. Still, Musk formally endorsed Trump two days after his assassination attempt last month.